Macroeconomic Uncertainty Drives Stocks to New Heights: 3 Top Picks for Long-Term Growth
Macroeconomic uncertainty and potential policy changes under the administration of President-elect Donald Trump have driven the stock market to new heights over the past four weeks. Despite short-term noise, investors can benefit by focusing on companies that can navigate challenges and deliver solid returns over the long term. Top Wall Street analysts recommend the following three stocks, backed by strong financials, reliable business models, and attractive product offerings.
ServiceNow (NOW)
Artificial intelligence-enabled workflow automation software company ServiceNow has topped analysts’ expectations with its third-quarter results, thanks to AI-related tailwinds. Mizuho analyst Gregg Moskowitz reiterated a buy rating on NOW stock, raising the price target to $1,070 from $980. Moskowitz believes the company is well-positioned for durable growth, driven by robust demand and the growth potential of its new Workflow Data Fabric product.
Snowflake (SNOW)
Data analytics software provider Snowflake has seen its shares soar nearly 33% after its better-than-anticipated third-quarter results. TD Cowen analyst Derrick Wood reaffirmed a buy rating on SNOW, increasing his 12-month price target to $190 from $180. Wood found the company’s performance to be uniformly impressive, driven by changes in its go-to-market strategy and early traction in Cortex AI services.
Twilio (TWLO)
Cloud communications platform Twilio has impressed investors with its market-beating third-quarter results and raised full-year revenue outlook. Monness analyst Brian White upgraded TWLO stock to a buy from a hold with a price target of $135. White believes the company is on course to extend its recovery, driven by its ability to combine communications with contextual data and AI.
These three stocks are favored by top Wall Street analysts, with a track record of profitable ratings and average returns. Investors can benefit by ignoring short-term noise and focusing on companies that can navigate challenges and deliver solid returns over the long term.
